Agnico-Eagle Mines (AEM): HSBC reduces its recommendation to Underweight from Equal Weight, with a new lower target price of $28.60.

Anheuser-Busch (BUD): A second downgrade in as many trading days for the brewer, today taken to Market Perform from Outperform by Sanford Bernstein.

BASF AG (PINK:BASFY): Credit Suisse gives the German chemical giant a downgrade to Neutral from Outperform.

Cerner (CERN): The recommendation is reduced to Market Perform from Outperform at Raymond James.

Commodity Companies: African Barrick Gold (PINK:ABGLY) and Gold Fields (GFI) are each now Neutral from Overweight at HSBC Securities, which reduces its price objective on the latter to $7.90 from $11.20

Eastman (EMN): JPMorgan moves the chemical company to Neutral from Overweight.

Ecolab (ECL): Shares are reduced to Neutral from Outperform at Robert W. Baird, whose new objective is $88 primarily. Among its concerns are increasing operational risks and a lack of upcoming catalysts.

Fly Leasing (FLY): The stock is now Neutral from Buy at Citigroup.

Reed Elsevier (ENL): Citi cuts the European company, which owns the LexisNexis legal database, to Neutral from Buy. Shares, up strongly year to date, are sharply lower in today's London trading as a result.

Gannett (GCI): The USA Today owner gets downgraded to Underweight from Equal Weight by Barclays, sending it sliding in the pre-market.

IberiaBank (IBKC): Keefe Bruyette cuts the company to Market Perform from Outperform.

Jetblue Airways (JBLU): Shares are now Neutral from Buy at Bank of America-Merrill Lynch.

Leap Wireless (NASDAQ:LEAP): LEAP is lowered to downgraded to Underweight from Neutral at JPMorgan.

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